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South Bend Chocolate Annexation Area <br />TABLE 1 <br />Summary Table - Estimated Fiscal Impact <br />13 <br />Expenditures <br />Capital <br />(Est.) <br />Non -Capital <br />Per Year (Est.) <br />Notes <br />5-Year Total <br />Street Construction <br />$0 <br />$0 <br />Sewer Extension <br />$0 <br />Connection at <br />petitioner's <br />expense <br />$0 <br />Water Extension <br />$0 <br />Connection at <br />petitioner's <br />expense <br />$0 <br />Street Lights <br />$0 <br />$0 <br />Street Maintenance <br />$0 <br />$0 <br />$0 <br />Police <br />$0 <br />$3,392 <br />$16,960 <br />Fire <br />$0 <br />$3,072 <br />$15,360 <br />Code <br />$0 <br />$496 <br />$2,480 <br />Approximate 5-Year Expenditures <br />$34,800 <br />Revenues <br />Notes <br />Total (Est.) <br />5-Year Total <br />Property Taxes <br />(to City) <br />Year 1 <br />$7,640 <br />$252,290 <br />Year 2 <br />$31,365 <br />Year 3 <br />$31,365 <br />Year 4 <br />$90,960 <br />Year 5 <br />$90,960 <br />MVH/LRSA <br />Estimated at revenue <br />per mile of $23,763 <br />$0 <br />$0 <br />Approximate 5-Year Revenues <br />$252,290 <br />Revenue estimate based on $365,300 net assessment and capped tax rate of 3% of <br />$365,300 gross assessment in Year 1; $1,500,000 net assessment and capped tax rate of <br />3% of $1,500,000 gross assessment in Years 2 and 3; and $4,350,000 net assessment and <br />capped tax rate of 3% of $4,350,000 gross assessment, first taxable in Year 4. <br />